14th Ghana Banking Awards launched

nana otuThe 14th Ghana Banking Awards, under the auspices of Corporate Initiative Ghana (CIG), has been launched in Accra yesterday.

For the first time in the history of the awards, it has coincided with the final Technical Committee (TC) meeting which comprises representatives of all the universal banks, the event statisticians and the planning board.

On the theme, “Identifying and rewarding excellence in the banking services”, it is expected to reflect the competitive nature of the sector.

The awards, based on both qualitative and quantitative data obtained from about 28 competing universal banks will reward deserving banks in 14 categories plus two special categories exclusively sponsored by the Ghana Interbank Payment and Settlement Systems (GhIPSS).

These categories are customer care, advisory services, trade finance, trade deal of the year, long term loan finance, retail finance and corporate finance.

The rest are agriculture, forestry and fishing, product innovation, competitive pricing, corporate social responsibility, financial performance, bank growth and bank of the year.

The other special awards categories include the most active E-zwich bank and the bank that promotes a cashless society.

Launching the awards yesterday, the chairman of the Awards Planning Board, Nana Otuo Acheampong said the competitive nature of Ghana’s sector was on the ascendency as a result of the swelling number of financial institutions making their way into the country.

He said this year’s awards would be highly competitive considering the sterling financial results released by the various players in the industry.

To ensure the transparency of the awards, Nana Acheampong said, research firm Ernst and Young would be engaged to bring their globally acclaimed reputation to bear positively on the processes.

He said the approach and methodology process for the awards were scrutinised and agreed upon by the technical committee which consisted of representatives of the qualifying banks.

“With the banking regulator’s directive to all banks to make their financial statements public through the press, a rich set of quantitative data is made available for the awards. The quantitative statistics are supplemented with qualitative surveys of both the banks and their customers,” he added.

The prevailing economic conditions, he said, militates against the organisers’ efforts to fix a definite day for the awards night hinting it would be held in late June or early July.

Mr. Archie Hesse, Chief Executive Officer of GhIPSS said identifying and rewarding excellence in the banking sector does not only impact the reputation and corporate image of the award winners but the economy and the many individuals who have faith in the banking industry.

“It encourages creativity and innovation and promotes efficiency in all aspects of service delivery,” he said.

Mr. Hesse said GhIPSS was committed to providing convenience for bank customers.

“This is why we are happy to be associated with the awards scheme. We are particularly enthused about the most active e-zwich bank category which was introduced last year,” he said.

By Julius Yao Petetsi    

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